The Nasdaq jumps 1.18% driven by a spectacular surge in semiconductors

Semiconductors Soar, Led by Micron and Intel

The session was dominated by a spectacular rally in the semiconductor sector. Micron Technology led the Nasdaq, soaring 8.88% to $367.85, followed closely by Intel, which climbed 8.84% to $48.03. Marvell Technology completed the top three with a rise of 7.73% to $106.71. The entire chip value chain benefited from this movement: Lam Research rose 3.91% to $222.01, Applied Materials 3.51% to $353.80, while KLA Corporation and ASML Holding gained 3.22% and 2.95%, respectively, settling at $1,519.84 and $1,359.76. Advanced Micro Devices also joined the rally with a 3.33% increase to $210.21. Riding this technological wave, Alphabet (Class A) advanced 3.42% to close at $297.39. Outside the chip sector, Lululemon Athletica surprised with a gain of 3.73% to $158.81.

Energy and Telecommunications in Decline

Going against the grain of technological euphoria, several sectors took a hit. Diamondback Energy recorded the biggest drop of the day with a decline of 3.63% to $190.62. Verisk fell 3.29% to $183.50, while Trade Desk dropped 3.13% to close at $21.98. The telecommunications sector also suffered: T-Mobile US lost 2.75% to $204.25 and Comcast decreased by 2.30% to $28.05. Not all advertising and technology stocks benefited from the environment: Zscaler slid 2.58% to $136.67, Applovin Corp fell 2.55% to $387.84. Keurig Dr Pepper shed 2.43% to $25.69, Thomson Reuters 2.14% to $88.05, and CoStar Group 1.76% to $39.63.

A session close boosted by tech

The Nasdaq started April on a strong footing, posting a gain of nearly 1.2%, reflecting investors' renewed appetite for tech stocks. The significant rebound in semiconductors largely offset losses in energy and certain defensive segments. At 24,019.99 points, the tech index demonstrates its ability to capitalize on sector movements, even without a major macroeconomic catalyst. The remainder of April will reveal whether this momentum can continue.